Wesfarmers Limited has acquired a 30 per cent stake in Tecsa, which will also provide its data and digital services to the group in Australia and New Zealand. Tecsa will use the investment from Wesfarmers to accelerate its next generation retail and credit-decisioning platforms.
Tecsa was established in 2019 to help businesses create digital ecosystems and leverage the power of data. Leading edge data science is applied to the valuable first party data created from these ecosystems to drive enhanced customer-led decision-making, enabling businesses to provide customers with the products and services they need, when they need them.
Wesfarmers, one of Australia’s largest listed companies, has a diverse portfolio which includes market-leading retail operations across Australia and New Zealand, such as Bunnings, Kmart, Target, Officeworks and Priceline.
Wesfarmers is focused on building out its group-wide data and digital ecosystem and has recently established OneDigital - a digitally native division that includes its group membership program, OnePass, Wesfarmers’ shared data asset, OneData, and the marketplace business, Catch.com.au
Tony Buffin, Tecsa Founder said:
“Wesfarmers is a hugely successful and dynamic market-leader which has placed its trust in us and given us support to scale our consumer data science capability. This is a fantastic endorsement and testimony to how far Tecsa has come. In Wesfarmers we have a partner that shares our values and this transformative investment will enable the acceleration and development of our leading software capability.”
Dave Battiston, Tecsa Co-founder said:
“We take great encouragement from this significant investment which underlines the mutually beneficial, value-added strategic partnerships we can offer “big data corporations” across multiple industries. We look forward to tirelessly delivering on our commitments to our existing partners and forging new partnerships with data-led organisations around the world.”
From its origins in 1914 as a Western Australian farmers’ cooperative, Wesfarmers has grown into one of Australia’s largest listed companies. With headquarters in Perth, Wesfarmers’ diverse businesses cover: home improvement, outdoor living and building materials; general merchandise and apparel; office and technology products; health, beauty and wellbeing products; wholesale pharmacy distribution; manufacturing and distribution of chemicals and fertilisers; mine development and construction; industrial and safety product distribution; retail and commercial energy supply; and a data and digital ecosystem. Wesfarmers is one of Australia’s largest private sector employers with almost 120,000 team members and is owned by more than 515,000 shareholders.
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